AutoNews Now: Ford US expecting $1.4B profit drop

Ford sees lower 2017 profits with most of the hit in Q1

Citing front-loaded product launch costs and engineering expenses, Ford USA said that much of the year-over-year decline it expects from its 2017 financial performance will occur in the first quarter.

Ford said Thursday its first-quarter profit will fall by more than 50% because of higher costs and lower vehicle sales, The company said it still expects to earn an adjusted pre-tax profit of $9 billion in 2017, down from the $10.4 billion it earned last year.